Guideline Value for Nakkeeran Street

Nakkeeran Street guideline value

The current guideline value of Nakkeeran Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Nakkeeran Street has changed

The guideline value for Nakkeeran Street has undergone several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The value then rose sharply to Rs 2,500 per sq.ft in the 2023 revision, and most recently, it has increased to Rs 2,700 per sq.ft in the 2024 revision.

In terms of percentage changes, the value increased by 900% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an 8% increase. The register has no figures for Nakkeeran Street in 2002 and 2003.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means Nakkeeran Street's 2024 figure is above that median.

• Mylai Ramamurthy Street: Rs 950 per sq.ft (2024)
• Navaneetham Nagar: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 4th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nakkeeran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nakkeeran Street?

The Sub Registrar Office that covers Nakkeeran Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chembakkam

The guideline value is a crucial factor in property transactions in Chembakkam, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees that are applicable.

It is important to note that the stamp duty is charged based on the higher of the guideline value or the sale price of the property. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nakkeeran Street?

The current guideline value of Nakkeeran Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with various revisions in between, including a decrease and subsequent increases.

What is the land classification for Nakkeeran Street?

The land classification for Nakkeeran Street is Residential Class I Type - III.

What are the stamp duty rates applicable in Nakkeeran Street?

The stamp duty rate in Nakkeeran Street is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Nakkeeran Street located?

The Sub Registrar Office for Nakkeeran Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.